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Interesting AXP Plat statement observation


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Was just looking at a recent statement and saw the minimum was much lower than I had anticipated since i did not really have much travel.  As I go down the page, I noted that EVERY purchase made after the 1st is now keyed as Pay over Time...not some, not certain categories...EVERYTHING. 

 

I knew they had had been pushing it but it seems the current model will be to suck people into paying less than the balance.  They are even nice enough to show the Pay Over Time available credit.  I think they had been doing THAT for a few statements but had not looked closely enough to say for sure.  I went back six months and saw that the 'limit' has been there for at least six months.  That review did confirm that there was either a serious glitch this month or I missed a memo...

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Same with my blue cash everyday card.  I would imagine most BCE holders are more likely to use pay over time also then platinum holders.   The coupon book idea also appears to be real for most of their cards (it has saved me money in the past year but lots of the offers are places I wont use and have never heard of).  

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10 hours ago, centex said:

Was just looking at a recent statement and saw the minimum was much lower than I had anticipated since i did not really have much travel.  As I go down the page, I noted that EVERY purchase made after the 1st is now keyed as Pay over Time...not some, not certain categories...EVERYTHING. 

 

I knew they had had been pushing it but it seems the current model will be to suck people into paying less than the balance.  They are even nice enough to show the Pay Over Time available credit.  I think they had been doing THAT for a few statements but had not looked closely enough to say for sure.  I went back six months and saw that the 'limit' has been there for at least six months.  That review did confirm that there was either a serious glitch this month or I missed a memo...

In the past ten years, I have never paid the minimum repayment to AmEx, everything has been paid in full, and there is absolutely no interest. 

 

I can choose to pay a Green AmEx annual fee of $150, with a minimum payment of $40. The POT limit is  $25,000. But I chose not to develop the habit of paying the lowest fees.

 

Haha... AmEx has already made a subtraction toward the POT limit.  :lol:

 

 

PfQ5VRy.jpg

 

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On 10/23/2021 at 10:49 AM, Wander907 said:

Same with my blue cash everyday card.  I would imagine most BCE holders are more likely to use pay over time also then platinum holders.   The coupon book idea also appears to be real for most of their cards (it has saved me money in the past year but lots of the offers are places I wont use and have never heard of).  

I thought BCE was a credit product, which by default, IS a card where every purchase would essentially be a 'pay over time' item if the customer actually liked paying interest.  Contrast that with Plat, which is a charge product and historically was a pay-in-full product save for a few travel-related items that eventually became eligible for pay-over-time.  

 

 

 

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8 hours ago, centex said:

I thought BCE was a credit product, which by default, IS a card where every purchase would essentially be a 'pay over time' item if the customer actually liked paying interest.  Contrast that with Plat, which is a charge product and historically was a pay-in-full product save for a few travel-related items that eventually became eligible for pay-over-time.  

 

 

 

Whats even more interesting is even after I pay it (why would I want to wait), it still lists pay over time on previous transactions!

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6 hours ago, Wander907 said:

Whats even more interesting is even after I pay it (why would I want to wait), it still lists pay over time on previous transactions!

Status as an eligible POT line-item would not change.  The diamond is still going to be there on the .pdf version of the statement. 

 

Credit products are different than charge products.  Charge products should not be emulating credit products. 

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It's amazing what you see when you look at a statement.

 

I normally just download the transactions and manage them in Excel, but I was looking at some PDF statements yesterday and saw all kinds of notices about changes to card benefits, account terms, etc. 

 

I didn't notice this one, though, but I'll take a look.

 

 

Edited by cv91915
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